Petroleum

The Central Bank of Nigeria (CBN) has scheduled its first Monetary Policy Committee (MPC) meeting with Yemi Cardoso as Governor for Monday and Tuesday.Some economic experts have projected that the benchmark interest rate known as the Monetary Policy Rate (MPR) would most likely be tightened to rein in inflation and check further depreciation of the Naira. . The News Agency of Nigeria (NAN) reports that the last meeting of the MPC was held in July 2023, and was presided over by the then-acting CBN governor,…

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) on Tuesday urged the Nigerian government to put an end to the receipt of payments for all petroleum products in US dollars. This, the association said, is part of measures to address the continued rise in prices of petroleum products in the country. Benneth Korie, the president of NOGASA, disclosed this at a press briefing in Abuja on Tuesday. He explained that most Nigerians have adopted dollars as their main currency of exchange and trading while…

The Nigerian Association of Road Transport Owners (NARTO) on Tuesday directed its members to immediately resume petroleum loading activities. The National President of NARTO, Othman Yusuf, gave the directive after a meeting held in Abuja. The meeting was attended by the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, with NARTO, oil marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA). NARTO had in a letter dated 15 February, addressed to the General…

Teamsters said that 95% of workers at the refinery had voted to authorize the strike. Teamsters said that 95% of workers at the refinery had voted to authorize the strike. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not…

Dangote Petroleum Refinery has commenced production of diesel and aviation fuel, a statement by the company said. The President of Dangote Group, Aliko Dangote, elatedly thanked President Bola Ahmed Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of this project. Mr Dangote also thanked the Nigerian National Petroleum Company Limited (NNPC Limited), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority…

Updated Jan. 4, 2024 7:20 am ETEnergy company APA has agreed to buy smaller peer Callon Petroleum in a stock-swap deal valued at about $4.5 billion including debt, continuing a wave of consolidation in the energy sector.APA on Thursday said it would issue 1.0425 shares, worth $38.31 based on the Wednesday closing price of $36.75, for each share of Callon, offering a nearly 14% premium to Callon’s closing price.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Updated…

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Sunday said it has introduced four additional regulations that will govern the activities of the midstream and downstream sectors of the Nigerian petroleum industry. The agency in a statement by Kimchi Apollo, the general manager, corporate communications and stakeholders’ management, said the regulations are in line with the Petroleum Industry Act, 2021 (PIA). The NMDPRA had in March unveiled six regulations that will govern the…

The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday approved an upward review in the pump price of petroleum nationwide. The approval takes effect from Wednesday, 31 May, the NNPCL said in a circular on Wednesday. The development comes days after the government’s declaration that it will put an end to the fuel subsidy regime. Fuel queues returned to Nigerian cities Monday as many motorists scrambled to get petroleum products hours after President Bola Tinubu announced that the government would…

As the Muhammadu Buhari eight-year reign ends on 29 May, Nigerians continue to reflect on the various challenges faced in the petroleum sector and how it affected their livelihood. During the electioneering period in 2015, Mr Buhari and his party, the All Progressives Congress (APC), criticised the incumbent government of Goodluck Jonathan for failing to solve the country’s unending petroleum sector crises. At the time, Mr Buhari made a series of promises to Nigerians, which include fixing the nation’s moribund…